Attorney Trust Accounts in quickbooks

You'll need to move the funds from the incorrect account (Operating) and put them into the correct one (Trust Liability account), 7thdaymb. After that, record a transfer to ensure the entry reflects accurately in your accounts. We'll guide you through the entire process to get this sorted out.

Before proceeding, we highly recommend consulting your accountant. They can help ensure the transfer is handled correctly and that your financial data remains accurate and compliant.

Start by visiting your Chart of Accounts (COA) to locate the incorrect deposit. Once found, you’ll need to edit the transaction and update the posting account to the correct liability account. To do this, here's how:

1. Go to the List menu and select Chart of Accounts.
2. Look for the operating account and double-click it to open its transactions.
3. Find the incorrect deposit, highlight it and click Edit Transaction. This opens the transaction details. 
4. From there, change its posting account (correct liability account). 
5. Click Save & Close. 

Right after, record a bank transfer to track the movement of funds that occurred between your actual bank accounts (Operating and Trust accounts). You can accomplish this by either creating a journal entry (JE) or writing a check, depending on what works best for your business needs.

If you have any further questions or concerns about the process above, don’t hesitate to leave a comment below. We'll gladly assist.

Will not let me change the deposit to Client Trust Liability Account because it is not a bank account.

You cannot change the "Deposit to" Account to liability account it has to be a bank account.